CEO poll, bets back Fed's Geithner as Treasury pick
CHICAGO (Reuters) - Momentum to name Timothy Geithner as the next U.S. Treasury Secretary seems to be building, both among the country's top business executives and bettors with actual skin in the game.
President-elect Barack Obama's pick will help lead the U.S. economy through the worst financial crisis since the Great Depression, and pick up the reigns of the $700 billion federal financial bailout from Henry Paulson.
In a poll conducted at The Wall Street Journal's CEO Council event in Washington on Tuesday, 37 percent of survey respondents said Geithner, now president of the New York Federal Reserve, should get the job.
Lawrence Summers, Treasury Secretary in the final stages of the Clinton administration, picked up 18 percent of the vote, while former Fed Chairman Paul Volcker carried just under 10 percent, The Wall Street Journal said on its blog.
"None of the above" was the second-place vote-getter, though, with 35 percent. Some 93 CEOs at the event responded to the question.
Wagering on Obama's Cabinet picks is in full swing on intrade.com, an online prediction market based in Dublin, and Geithner has pulled ahead in the race to run Treasury.
A nod for Geithner last traded at a new high of 54.0, up 1.6 points on the day, while Summers stock stumbled 6.5 points to 25.5. Volcker and Federal Deposit Insurance Corp Chairwoman Sheila Bair led a pack of more than two dozen also-rans.
(Reporting by Ros Krasny; editing by Gary Crosse)
